A Written Order for the Bank to Pay a Third

question 124

Multiple Choice

A written order for the bank to pay a third party a stated amount of money on a specific date without any conditions or strings attached is called a(n)

• A) banker's guarantee.
• B) banker's acceptance.
• C) letter of credit.
• D) international promissory note.
• E) international charge agreement.

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Definitions:

Grand Plan

A comprehensive scheme or strategy designed to achieve a major or overall goal.

Hawthorne Effect

A psychological phenomenon in which individuals improve or modify their behavior in response to their awareness of being observed.

Lean Operation

A methodology focused on minimizing waste within manufacturing systems while simultaneously maximizing productivity.

Malcolm Baldrige

A set of standards for quality improvement established by the U.S. Department of Commerce, named after Malcolm Baldrige, the 26th Secretary of Commerce.